Relmada Therapeutics, Inc. (NASDAQ:RLMD) Receives Consensus Rating of “Hold” from Analysts

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) have been given an average recommendation of “Hold” by the five research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $9.00.

Several research firms have commented on RLMD. Mizuho upgraded Relmada Therapeutics from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $1.00 to $10.00 in a research note on Wednesday, November 19th. Jefferies Financial Group began coverage on shares of Relmada Therapeutics in a report on Monday, December 22nd. They issued a “buy” rating and a $9.00 price objective for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Relmada Therapeutics in a report on Wednesday, January 28th. Zacks Research raised Relmada Therapeutics to a “hold” rating in a research note on Tuesday, January 27th. Finally, Leerink Partners raised Relmada Therapeutics from a “market perform” rating to an “outperform” rating and set a $8.00 target price for the company in a research note on Friday, January 23rd.

Insider Buying and Selling at Relmada Therapeutics

In related news, CFO Maged Shenouda bought 11,665 shares of the stock in a transaction on Monday, December 15th. The stock was bought at an average price of $4.12 per share, with a total value of $48,059.80. Following the completion of the purchase, the chief financial officer directly owned 800,000 shares in the company, valued at $3,296,000. This represents a 1.48% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RLMD. Schonfeld Strategic Advisors LLC purchased a new position in Relmada Therapeutics in the fourth quarter valued at $64,000. Jefferies Financial Group Inc. acquired a new stake in Relmada Therapeutics during the 4th quarter worth $105,000. Graham Capital Management L.P. purchased a new position in shares of Relmada Therapeutics during the fourth quarter worth about $124,000. Hudson Bay Capital Management LP acquired a new position in shares of Relmada Therapeutics in the fourth quarter valued at approximately $127,000. Finally, Mangrove Partners IM LLC acquired a new position in Relmada Therapeutics in the 4th quarter valued at $132,000. 45.24% of the stock is owned by institutional investors and hedge funds.

Relmada Therapeutics Stock Performance

RLMD stock opened at $4.13 on Monday. Relmada Therapeutics has a one year low of $0.24 and a one year high of $5.12. The firm’s fifty day moving average is $4.11 and its 200 day moving average is $2.94. The firm has a market cap of $302.85 million, a PE ratio of -2.29 and a beta of 0.77.

Relmada Therapeutics Company Profile

Relmada Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies for pain and other central nervous system (CNS) disorders. The company applies a proprietary stereochemical approach to optimized drug candidates, aiming to improve safety, tolerability and efficacy profiles compared with existing treatments. Relmada’s research efforts center on modulation of NMDA receptors to address unmet needs in depression, neuropathic pain and related indications.

Relmada’s lead product candidate, REL-1017 (d-methadone), is being evaluated as a potential rapid-acting and maintenance treatment for major depressive disorder, with clinical studies underway to assess its utility in both acute and long-term settings.